scholarly journals Price Gouging In A Hurricane: Do Free Market Forces Circumvent Price Controls?

2019 ◽  
Vol 16 (2) ◽  
pp. 19-30
Author(s):  
Jesse T. Wright ◽  
Raymond L. Placid ◽  
Marcus T. Allen
Keyword(s):  
Free Market ◽  
Gasoline Prices ◽  
Market Forces ◽  
Weather Event ◽  
State Of Emergency ◽  
Price Controls ◽  
Before And After ◽  
Price Gouging ◽  
Hurricane Irma

This study analyzes gasoline prices in Florida and Georgia before and after Hurricane Irma, a major weather event that affected both states in 2017. The analysis reveals that gasoline prices in both states increased and stabilized well in advance of state of emergency declarations that triggered the states’ price gouging laws. Price gouging laws thus appear to be inconsequential. Free market forces determine prices unhindered by government price controls during hurricane emergencies.

scholarly journals Medical Mask Resellers Punished in Canada

Studia Humana ◽  
2020 ◽  
Vol 9 (2) ◽  
pp. 69-74
Author(s):  
Milton Kiang
Keyword(s):  
Free Market ◽  
Market Prices ◽  
Price Controls ◽  
Natural Catastrophes ◽  
Medical Supplies ◽  
The Government ◽  
Price Gouging ◽  
Future Demand

AbstractIn times of pandemics or natural catastrophes, prices of commodities, such as water, food and medicines, tend to shoot up, in response to a surge in demand and depleting supplies. The government, in its misguided efforts to maintain “price affordability”, imposes price controls and anti-price-gouging legislation and bans the reselling of food and medical supplies. These interventions in the free market are the exact opposite of what the government should do, if it wants to ensure that enough commodities go to people who need them, that people do not hoard all available goods on grocery shelves, and most importantly, that suppliers have the incentive to produce more goods to meet current and future demand at market prices.

scholarly journals Evaluating the Implementation of the “Build-Back-Better” Concept for Critical Infrastructure Systems: Lessons from Saint-Martin’s Island Following Hurricane Irma

2021 ◽  
Vol 13 (6) ◽  
pp. 3133
Author(s):  
Rita Der Sarkissian ◽  
Anas Dabaj ◽  
Youssef Diab ◽  
Marc Vuillet
Keyword(s):  
Decision Making ◽  
Conceptual Analysis ◽  
Scientific Literature ◽  
Critical Infrastructure ◽  
Methodological Approach ◽  
Infrastructure Systems ◽  
Before And After ◽  
Study Offer ◽  
Hurricane Irma ◽  
Operational Aspects

A limited number of studies in the scientific literature discuss the “Build-Back-Better” (BBB) critical infrastructure (CI) concept. Investigations of its operational aspects and its efficient implementation are even rarer. The term “Better” in BBB is often confusing to practitioners and leads to unclear and non-uniform objectives for guiding accurate decision-making. In an attempt to fill these gaps, this study offers a conceptual analysis of BBB’s operational aspects by examining the term “Better”. In its methodological approach, this study evaluates the state of Saint-Martin’s CI before and after Hurricane Irma and, accordingly, reveals the indicators to assess during reconstruction projects. The proposed methods offer practitioners a guidance tool for planning efficient BBB CI projects or for evaluating ongoing programs through the established BBB evaluation grid. Key findings of the study offer insights and a new conceptual equation of the BBB CI by revealing the holistic and interdisciplinary connotations behind the term “Better” CI: “Build-Back-resilient”, “Build-Back-sustainable”, and “Build-Back-accessible to all and upgraded CI”. The proposed explanations can facilitate the efficient application of BBB for CI by operators, stakeholders, and practitioners and can help them to contextualize the term “Better” with respect to their area and its CI systems.

scholarly journals What Kind Of Capitalism For Azerbaijan? A Comparative Analysis From Economic View

2011 ◽  
Vol 10 (6) ◽  
pp. 57
Author(s):  
Ayhan Guney ◽  
Ilkin M. Sabiroglu ◽  
Cihan Bulut
Keyword(s):  
Market Economy ◽  
Capital Accumulation ◽  
Agricultural Sector ◽  
Free Market ◽  
Open Market ◽  
Before And After ◽  
Major Factors ◽  
The Impact ◽  
Historical Periods

Every country has experienced various capital accumulation processes due to their own specific conditions. Differences in these conditions have ensured various countries to enter the process of economic development in dissimilar historical periods. Due to the central characteristics of the previous command economic system and the impact of powerful heritage from the USSR on the bureaucratic administration, Azerbaijan is still having difficulties in transitioning to a free-market economy. Today, the transition to an open market economy for Azerbaijan is not completely realized. This research attempts to investigate the major factors of the formation process of the capitalist economic structure in Azerbaijan before and after the demise of the Soviet Union.It focused on the fundamental role of oil and relatively, the agricultural sector and also looked into the types of capitalism the country is currently experiencing based upon certain criteria and statistical indicators.

Price Setting and Other Attempts to Control the Economy

2016 ◽  
Author(s):  
Egbert Koops
Keyword(s):  
Free Market ◽  
Price Formation ◽  
Market Forces ◽  
Price Setting ◽  
Price Shocks ◽  
Market Prices ◽  
Government Interventions ◽  
Party Autonomy ◽  
Roman Economy ◽  
Similar Vein

Prices in the Roman economy were generally set by the operation of free market forces. Occasional government interventions in the form of price ceilings occurred in times of crisis, to stabilise volatile or politically important markets, or to signal moral policies. The mechanism of price formation was generally understood, but price shocks were expected to be curbed. In a similar vein, the valuation techniques developed by the Roman jurists were based on “true” prices rather than pure market prices. Even so, party autonomy in price setting was the norm. The grain market was guided to some extent for obvious political reasons, but even here there was room for private initiative. The freedom to contract was stressed as late as Diocletian, but, not much later, rampant inflation forced him to issue his edict on maximum prices, which remains an exceptional regulation in many ways.

scholarly journals The Impact of COVID-19 Crisis upon the Consumer Buying Behavior of Fresh Vegetables Directly from Local Producers. Case Study: The Quarantined Area of Suceava County, Romania

2020 ◽  
Vol 17 (15) ◽  
pp. 5485 ◽  
Author(s):  
Alina Butu ◽  
Ioan Sebastian Brumă ◽  
Lucian Tanasă ◽  
Steliana Rodino ◽  
Codrin Dinu Vasiliu ◽  
...  
Keyword(s):  
Sociodemographic Factors ◽  
The State ◽  
Buying Behavior ◽  
State Of Emergency ◽  
Purchasing Intention ◽  
Starting Point ◽  
Fresh Vegetables ◽  
Before And After ◽  
The Impact ◽  
Consumer Buying Behavior

The present paper intends to address the impact of COVID-19 crisis upon the consumer buying behavior of fresh vegetables directly from local producers as observed 30 days later, after enforcing the state of emergency in Romania within a well-defined area, namely, the quarantined area of Suceava. The study relies on the interpretation of answers received from the quarantined area (N = 257) to a questionnaire applied online nationwide. The starting point of this paper is the analysis of the sociodemographic factors on the purchasing decision of fresh vegetables directly from local producers before declaring the state of emergency in Romania (16 March 2020). Further research has been conducted by interpreting the changes triggered by the COVID-19 crisis on the purchasing intention of such products before and after the end of the respective crisis. The aim of this scientific investigation relies on identifying the methods by which these behavioral changes can influence the digital transformation of short food supply chains.

scholarly journals The Misallocation of Housing Under Rent Control

2003 ◽  
Vol 93 (4) ◽  
pp. 1027-1046 ◽  
Author(s):  
Edward L Glaeser ◽  
Erzo F. P Luttmer
Keyword(s):  
New York ◽  
New York City ◽  
York City ◽  
Free Market ◽  
Consumption Patterns ◽  
Significant Fraction ◽  
Rent Control ◽  
Standard Analysis ◽  
Price Controls ◽  
Demographic Subgroups

The standard analysis of price controls assumes that goods are efficiently allocated, even when there are shortages. But if shortages mean that goods are randomly allocated across the consumers that want them, the welfare costs from misallocation may be greater than the undersupply costs. We develop a framework to empirically test for misallocation. The methodology compares consumption patterns for demographic subgroups in rent-controlled and free-market places. We find that in New York City, which is rent-controlled, an economically and statistically significant fraction of apartments appears to be misallocated across demographic subgroups.

Profits in Medicine: A Context and an Accounting

1978 ◽  
Vol 8 (1) ◽  
pp. 41-54 ◽  
Author(s):  
Gelvin Stevenson
Keyword(s):  
Health Care ◽  
Final Section ◽  
Health Care Expenditures ◽  
Relative Growth ◽  
Non Profit ◽  
Price Controls ◽  
For Profit ◽  
Before And After ◽  
The U.S

The U.S. health care industry is composed of a dynamic mixture of profit and non-profit entities. These sectors sometimes compete in the same activities and may have virtual monopolies over other activities. Estimates of the relative and absolute sizes and growth trends of the profit and non-profit sectors are developed in this article. These estimates show that approximately 39 percent of total health care expenditures in the U.S. in 1975 went to for-profit institutions, generating $3.3 billion in profit. This represented 7 percent of for-profit and 2.8 percent of total expenditures. Some for-profit subsectors grew more rapidly and others less rapidly than total health care expenditures. As a whole, the for-profit sector grew faster than the non-profit sector before and after Medicare and Medicaid were introduced as well as during the period when price controls were in effect. The relative growth of the for-profit sector was greatest right after the introduction of Medicare and Medicaid. The true significance of profit lies not in numbers, but in the effects that the drive for profit have on the nature and quality of health and health care. This is discussed in the final section.

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